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Saturday, June 22, 2024

Tobacco marketing season rakes in US$45 million

Story by Davison Vandira

THE current tobacco marketing season which is still in its infancy stage has raked in US$45 million which is US$5 million short of last season’s US$50 million during the same period.

A total of 15 million kilogrammes have since gone under the hammer with an average price of US$2.98, giving farmers value for their produce and ensuring the viability of the farming business.

The progression of the 2023 marketing season has also been constantly supported by the industry regulator, the Tobacco Industry and Marketing Board through intervening in various ways to weed outside marketing and other nefarious activities within the sector.

“From a selling perspective, we are having a great season where the product is coming and the prices are a bit firmer than last season and we would like to continue with the current pace, however, operational efficiency will continuously be improved,” said Mr Emmanuel Matsvaire, TIMB Acting CEO.

Under the country’s agriculture transformation agenda, the tobacco industry is eyeing to surpass the 300 million kilogramme mark towards the envisaged US$8 billion agriculture industry.

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